Rex Shares Adds to its MicroSectors Lineup

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Logo: Rex Shares

NEW YORK – REX Shares, LLC (REX) today added to its MicroSectors lineup with the launch of MJO, the first leveraged exchange-traded product in the U.S. linked to the cannabis industry. MJO, an Exchange-Traded Note (ETN), is linked to MSMJ, the Indxx MicroSectors North American Cannabis Index, and will seek to provide 2x leveraged exposure to the Index.

In addition, REX announced the launch of MJJ, a 1x version of the Exchange Traded Notes linked to the Index. The MicroSectors Cannabis 2x Leveraged ETN (symbol: MJO) and MicroSectors Cannabis Index ETN (symbol: MJJ) started trading today on NYSE Arca. The ETNs are senior, unsecured obligations issued by the Bank of Montreal.

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The Index provides a quarterly IPO review for new issuances and a quarterly review for stocks facing potential regulatory bars to engaging in the cannabis industry. The Index selects U.S. and Canadian constituents from five key sub-themes: Cultivator, Pharmaceuticals, Testing & Analytics, Industrial Hemp, and Ancillary. Companies are screened as either pure play or quasi play depending on the percentage of revenue that is derived from Cannabis.

REX sees large demand for ETNs in this sector. “We created the MicroSectors lineup to innovate the ETP landscape and launch ‘first of’ products like this first 2x Cannabis ETN in the United States,” said Scott Acheychek, President of REX. “The Bank of Montreal has been a great partner and we enjoyed working with Indxx for the first time on this index. We are all thrilled to launch these ETNs. They represent a tremendous step forward for cannabis stock investing and trading, and we believe they are providing many U.S. investors with the targeted North American cannabis industry exposure they’re looking for.”

As the first leveraged exchange-traded cannabis product available in the U.S., MJO opens up new trading possibilities for sophisticated investors. “We’re particularly excited about providing U.S. tactical investors with daily 2x leveraged exposure to the cannabis industry,” Acheychek continued. “We think it will serve as a valuable additional tool in investors’ trading toolkits.”


About REX Shares
REX launched the MicroSectors brand in 2018 with FANG+ linked ETNs, and has expanded to include U.S. Big Banks, U.S. Big Oil & Dorsey Wright MLP Index linked ETNs.

About BMO Financial Group
Serving customers for 200 years and counting, BMO is a highly diversified financial services provider – the 8th largest bank, by assets, in North America. With total assets of $852 billion as of October 31, 2019, and a team of diverse and highly engaged employees, BMO provides a broad range of personal and commercial banking, wealth management and investment banking products and services to more than 12 million customers and conducts business through three operating groups: Personal and Commercial Banking, BMO Wealth Management and BMO Capital Markets.

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